Wednesday , May 29 2024

Stock market lot not to be cut to 10 shares: finance ministry

The round lot of 100 shares will not be reduced to 10 in the securities market, but trading in odd lots will be allowed, the finance ministry has said.

“There will be a mechanism for investors to sell odd lots of shares they are holding,” Deputy Minister of Finance Nguyen Duc Chi told VnExpress Friday.

“Most stock markets in the world do not have 10-share lots” and so a return to it is not appropriate, he said.

Last July, the ministry had planned a reversion to 10 shares after the installation of a new trading system on the Ho Chi Minh Stock Exchange (HoSE) managed to clear the earlier congestion, which had necessitated an increase from 10 to 100 shares.

HoSE’s round lot was 100 shares from its inception in 2000 to 2013, but then it reduced it to 10 to stimulate liquidity.

The HoSE management has decided to run with 100 since it is in line with international practices.

Many stock markets in the neighborhood have 100-share lots, including SET (Thailand), BM (Malaysia), SGX (Singapore), and SSE (Shanghai).

But most allow free trading of odd lots.

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